DXY Technical Analysis: Weakness expected to find initial contention in the 55-day SMA around 95.00

• The index is prolonging the bearish momentum at the beginning of the week, challenging the key support in the 95.00 neighbourhood.
• The increasing weakness keeps gathering traction around the buck, while it is seen facing the initial challenge around the 55-day SMA near 95.00 the figure. If cleared, the critical short-term support line, today at 94.82, should come to the fore.
• This area of contention is supported by the top of the daily cloud.

DXY daily chart

Daily high: 95.30

Daily low: 95.00

Support Levels

S1: 94.90

S2: 94.62

S3: 94.23

Resistance Levels

R1: 95.57

R2: 95.96

R3: 96.24